Samsung ventures into biomedical business

By Kim Yoo-chul

Samsung Group said Friday it plans to build research centers and manufacturing facilities for biosimilars in a business alliance with Quintiles Transnational, a U.S. drug maker.

With initial capital of some 300 billion won ($265 million) from Quintiles, Samsung Electronics and other units of the country’s No. 1 conglomerate, the buildings will be constructed in Songdo, a free economic zone in Incheon.

Samsung Group will have a 90-percent stake in the joint venture, with 40 percent being owned by its electronics arm Samsung Electronics.

The venture, which will be established this year, will start to produce medicine for the treatment of cancer and arthritis in the first half of 2013.

This marks the start of Samsung Group’s long-term plan to invest a total of 2.1 trillion won in biosimilars and associated segments by 2020.

The group said in 2010 that it will funnel a total of 23 trillion won to find future cash cows such as solar power, rechargeable batteries and display technology including the money in biosimilars.

``We announced last year that we are poised to make some 1.8 trillion won from the business by 2020. Our latest forecasts show that goal might be conservative,’’ Samsung Vice President Kim Tae-han told a press conference.

Samsung Electronics is the world’s largest maker of memory chips and flat-panel displays as well as the runner-up player in mobile handsets trailing only Nokia.

However, the company’s main businesses are expected to eventually tail off and it has sought next-generation growth engines in a variety of areas under the stewardship of Chairman Lee Kun-hee.

Biosimilars are one of the businesses in which Lee has shown great interest.

Kim quoted Chairman Lee as saying, ``Biosimilars are Samsung’s future.’’

삼성, 바이오제약 사업 본격 진출

삼성그룹은 세계적인 바이오제약 서비스 업체인 미국의 퀸타일즈(QUINTILES)사와 합작, 바이오 의약품 생산 플랜트를 건설할 계획이라고 25일 밝혔다.

삼성전자와 계열사들은 퀸타일즈로 부터의 3천억원 규모 최초 자본금과 함께 인천에 위치한 송도 경제자유구역내에 이들 생산시설을 건립할 계획이다.

합작사에는 삼성이 90%의 지분을 투자하는데 이중 40% 지분은 삼성전자가 맡는다.

올해 설립될 합작사는 2013년 상반기부터 본격 가동하면서 암, 관절염 치료용 바이오 의약품을 생산할 예정이다.